Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $226.00 at Bank of America

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target hoisted by analysts at Bank of America from $225.00 to $226.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price suggests a potential upside of 14.03% from the company’s previous close.

Other analysts also recently issued reports about the company. Stephens boosted their target price on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. KeyCorp raised their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Susquehanna upped their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Westinghouse Air Brake Technologies Price Performance

WAB stock opened at $198.19 on Wednesday. The business has a 50 day moving average price of $196.48 and a 200 day moving average price of $179.45. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $34.07 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 1.45 and a beta of 1.27. Westinghouse Air Brake Technologies has a fifty-two week low of $125.56 and a fifty-two week high of $207.51.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 EPS. Equities research analysts anticipate that Westinghouse Air Brake Technologies will post 7.6 earnings per share for the current fiscal year.

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the completion of the sale, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This trade represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Deninno sold 875 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $165,112.50. Following the transaction, the vice president now directly owns 55,352 shares in the company, valued at approximately $10,444,922.40. This trade represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,393 shares of company stock worth $9,350,243 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WAB. Bridges Investment Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies during the 2nd quarter worth approximately $360,000. UMB Bank n.a. raised its holdings in Westinghouse Air Brake Technologies by 4.4% during the third quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock worth $892,000 after purchasing an additional 209 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Westinghouse Air Brake Technologies by 22.7% in the third quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 455 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its position in shares of Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after buying an additional 8,575 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.